Purchase College Foundation Housing Corporation

“The corporation ("pcfhc") has entered into a management agreement with purchase college - suny. Under this agreement, purchase college - suny provides the operation, maintenance and management of alumni village. The president and the secretary of purchase college - suny receive none of their compensation from pcfhc and receive all of their compensation from purchase college - suny. These persons serve in similar roles for other campus foundations and related entities. But the compensation is not specifically related to any services performed for the benefit of pcfhc or to any other campus foundation and related entities. The treasurer receives all of his compensation from purchase college - suny, however, the entirety of the treasurer's compensation is reimbursed to purchase college - suny from pcfhc.”

“Prior to filing form 990 it is provided electronically to the members of the board of directors for their personal review and questioning. Subsequently, and prior to the filing of the purchase college foundation form 990 and the performing arts center foundation form 990 and purchase college foundation housing corp. (the principal affiliates) the combined audit committee will conduct a review of all three form 990's with the auditors and tax preparers present and participating with management in the presentation of these filings.”

“The conflict of interest policy provides for annual written acknowledgement by each trustee or officer that each has read and is familiar with the conflict-of-interest policy and as to whether or not the trustee or officer has a conflict of interest. If a conflict exists, the complete details of the conflict are to be described in writing and submitted to the board chair or the president. The board chair or president shall refer the issue to the executive committee, or other board committee (the 'body') having decision-making authority over the substantive matter in question. The trustee or officer who discloses a direct or indirect financial interest in a proposed or existing contract, transaction or arrangement may make a presentation and respond to questions by the body, but after such presentation, he or she shall leave the meeting during the discussion of, and vote on, the contract, transaction or arrangement that results in the conflict of interest. Each year the at the board of trustee's annual meeting, the conflict-of-interest policy is distributed and written acknowledgements submitted. During the course of the year, financial results and transactions are reviewed for reasonableness and appropriateness, including with regard to any potential for there being a conflict.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code by posting it on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request at 735 anderson hill road, purchase, ny 10577.”

“Contracted labor: program service expenses 1,196,022. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,196,022.”

“There is one audit committee that oversees purchase college foundation, performing arts center foundation and purchase college housing corp. There is representation by each of the related organizations board on this committee.”